DJ Danakali Agrees Extension to Second Funding Tranche With Africa Finance Corp.
By Sabela Ojea
Danakali Ltd. said Monday that it has agreed with Africa Finance Corporation to extend the deadline for the remaining conditions of the second tranche of funding.
The Australian mining company said Africa Finance Corporation remains committed to Colluli's potash project--based in Eritrea--and reiterated its confidence in the delivery and success of the project.
The company had said on March 31 that the funding had been deferred with the aim of waiting for the stabilization of global markets.
Last December the company said Africa Finance Corporation had agreed to invest $50 million to fund the development of the Colluli project.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
June 01, 2020 04:08 ET (08:08 GMT)
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